I spoke with a woman yesterday by telephone. Years ago, her husband had signed two Durable Powers of Attorney years ago authorizing his wife to act on his behalf. After signing the Powers of Attorney, her husband had a stroke. Over the last few years, the wife had given both signed original documents away. She was not sure who she gave them to because it was a while back, but she thinks she gave one to the IRS and one to a bank.
Now she needs to transact other business on her husband's behalf, but she does not have the documents to prove she has the authority.
Moral of the story? Never give away the only signed original of a Durable Power of Attorney. What may work better is to have an original recorded at the parish courthouse and have the clerk of court issue as many "certified copies" as you may need. Third parties, such as banks and title examiners, have the authority to rely on these certified copies, and you can get as many certified copies as you wish.
If you have questions about estate planning in Louisiana, feel free to send me an email at paul@rabalaislaw.com I look forward to hearing from you.
Paul Rabalais
The article is very nice and quite interesting for the Financial Advisors. A financial adviser is a professional who renders investment advice and financial planning services to individuals and businesses. Ideally, the financial advisor helps the client maintain the desired balance of investment income, capital gains, and acceptable level of risk by using proper asset allocation. Financial advisers use stocks, bonds, mutual funds, REITS, options, futures, notes and insurance products to meet the needs of their clients. Many financial advisers receive a commission payment for the various financial products that they broker, although "fee-based" planning is becoming increasingly popular in the financial services industry.
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pruepraizy
Make Money
Posted by: pruepraizy | December 18, 2008 at 04:52 AM